CAIRO, July 5 Egypt slashed its natural gas
subsidies to several industries increasing gas prices by 30-75
percent, part of a broad government strategy to cut back
subsidies that eat up to a fifth of its annual budget.
The new cut that was announced in the state's official
gazette on Saturday came immediately after a decision to reduce
car fuel subsidies, raising mainstream fuel prices up to 78
Egypt's government, appointed last month by the newly
elected President Abdel Fattah al-Sisi, said it was determined
to tackle the subsidies' burden and cut most within five years.
Saturday's new decision would increase the price of natural
gas to $8 per one million thermal units for the cement factories
and to $7 for the iron, steel, aluminium, copper, ceramic and
Last March, Egypt allowed cement companies to use coal for
energy to avoid potential public anger over frequent blackouts
that started after a 2011 uprising that ousted autocratic
president Hosni Mubarak and which was followed by a wave of
violent protests and economic turmoil.
(Reporting by Ehab Farouk; Writing by Yasmine Saleh; Editing by